AI in Oil and Gas Market Report 2026

The ai in oil and gas market size has grown rapidly in recent years. It will grow from $4.04 billion in 2025 to $4.55 billion in 2026 at a compound annual growth rate (CAGR) of 12.8%. The growth in the historic period can be attributed to need for operational efficiency, volatility in oil prices, growth in digital oilfield initiatives, rising offshore exploration complexity, availability of large operational data sets.

The ai in oil and gas market size is expected to see rapid growth in the next few years. It will grow to $7.51 billion in 2030 at a compound annual growth rate (CAGR) of 13.3%. The growth in the forecast period can be attributed to focus on cost reduction, demand for real time decision making, increasing safety regulations, expansion of smart oilfields, advancements in ai software platforms. Major trends in the forecast period include increased use of predictive maintenance solutions, rising adoption of drilling optimization algorithms, integration of ai with iot oilfield systems, growing deployment of robotics and drones, expansion of data driven reservoir management.

Rising oil and gas exploration activities are expected to drive the growth of the AI in the oil and gas market in the coming years. Oil and gas exploration activities involve the systematic search for underground or underwater crude oil and natural gas deposits through geological surveys, seismic studies, and exploratory drilling to identify commercially viable resources. These activities are increasing due to growing global energy demand, which requires higher production levels. AI in the oil and gas market supports exploration activities by delivering efficient, automated, and data-driven solutions that optimize exploration processes and reduce operational risks. For example, in June 2025, the U.S. Energy Information Administration reported that domestic crude oil production reached 13.2 million barrels per day in 2024, representing a 2% increase over the previous record set in 2023. Consequently, rising oil and gas exploration activities are fueling the growth of AI in the oil and gas market.

Major companies in the AI in the oil and gas market are concentrating on creating technologically advanced solutions, such as AI tools designed to optimize operations, enhance predictive maintenance, and improve safety and efficiency. These AI tools encompass sophisticated software and algorithms that analyze data to streamline processes, predict equipment failures, and enhance decision-making within oil and gas operations. For example, in July 2024, Indosat, an Indonesia-based internet service provider, launched a suite of AI-powered, cloud-based solutions. This suite boosts operational efficiency by automating tasks and optimizing resource allocation, resulting in substantial cost savings. Furthermore, it facilitates data-driven decision-making through the rapid analysis of large datasets, thereby enhancing productivity across the organization.

In March 2023, Accenture plc, a multinational professional services firm based in Ireland, acquired Flutura Decision Sciences and Analytics for an undisclosed amount. This acquisition is part of Accenture's strategy to enhance its digital capabilities, broaden its service offerings, and foster innovation for its clients in an increasingly competitive landscape. Flutura Decision Sciences and Analytics, located in India, specializes in data analytics and artificial intelligence solutions.

Major companies operating in the ai in oil and gas market are IBM Corporation, Microsoft Corporation, Accenture PLC, Google LLC, Intel Corporation, Schlumberger Limited, Halliburton Company, Baker Hughes Company, National Oilwell Varco Inc., Weatherford International PLC, TechnipFMC PLC, Wood PLC, ABB Ltd, Siemens AG, Honeywell International Inc., Emerson Electric Co., General Electric Company, Rockwell Automation Inc., Schneider Electric SE, Yokogawa Electric Corporation, Mitsubishi Electric Corporation, Toshiba Corporation, Hitachi Ltd., NEC Corporation, Fujitsu Limited, Oracle Corporation, Numenta Corporation, Sentient Technologies Inc.

North America was the largest region in the AI in oil and gas market in 2025 and is expected to be the fastest-growing region in the forecast period. The regions covered in the ai in oil and gas market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the ai in oil and gas market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The AI in oil and gas market consists of revenues earned by entities by professional services, managed services, installation, training and support and maintenance. The market value includes the value of related goods sold by the service provider or included within the service offering. The AI in oil and gas market also includes sales of hardware and software used in providing AI in oil and gas services. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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